You could room hack a single-family in a similar way, but what is your goal?

Here’s a rundown of my current situation:- Own an S-Corp (landscaping) generating 70k a year- 160k in available cash funds- Credit score around 720- Zero debt- Own one property valued at 365k, 30% equity- Property is rented by the room generating $400 a month after mortgage and taxes- Additional 590sqft house is being built in rear of property for 60k.

I personally like long term rentals, but it sounds like the numbers don't make sense and if you cant afford to or can't justify covering that much negative cash flow then another strategy is renting by the room, that works well if you have or can convert to at least 4 or 5 bedrooms. 

Compromise with your parents — save up from working and then invest in a home near the college you’ll attend and house- hack it, renting out the other rooms and gaining landlord experience while earning a degree.

Thanks Winslow for the informative post.I would think that one could find the house managers from the pool of recovering addicts, and could potentially pay a part profit from the rentals, so the manager is getting free room and board, and some income.

I didn't go over board, but having to buy dining room table, 2 beds and sofa and table for my living room added up and for $50 I was able to delay paying by 6 months interest free.

Also, people selling property right now (again, selling during election & holidays) are much more motivated sellers so there is more room to negotiate price.

A lot of your assumptions are quite optimistic, very little room for the inevitable headwinds. 

Consider how it will be used and if the floor can function as storage, rec room, family room, extra sleeping space, etc.From what you've shared, my concern would be the "hills" that may cause a tripping issue.

Currently, I don't really have wiggle room in my budget to rehab these properties to hold better value on the market, have mortgages on 3/4 of them, and 1/4 is currently rented.